As Mayor de Blasio pulls out all the stops to make the case for zoning proposals critical to his affordable housing plans, the Citizens Budget Commission assessed the economics of housing construction in the city.
Rahul Jain and Michael Dardia of the New York Citizens Budget Commission this week released analysis on the cost of affordable housing in the city.
From the beginning, the report acknowledges the ongoing debate (and lack of consensus) about what kinds of housing to generate, and how, to improve the affordability of the city's housing stock. With that context in mind, the report states: "In order to assess these concerns it is necessary to understand the economics of housing construction in New York City: How much does it cost to build residential units and what level of rent is needed to generate sufficient revenue to cover those costs?"
The brief report covers three subheadings: 1) cost of construction, 2) who can afford the city's rents, and the cost required to build more affordable units. The picture that emerges from the analysis shows how astronomically expensive the city is—even in so-called "weak" markets.
FULL STORY: The Cost of Affordable Housing

Trump Administration Could Effectively End Housing Voucher Program
Federal officials are eyeing major cuts to the Section 8 program that helps millions of low-income households pay rent.

Planetizen Federal Action Tracker
A weekly monitor of how Trump’s orders and actions are impacting planners and planning in America.

The 120 Year Old Tiny Home Villages That Sheltered San Francisco’s Earthquake Refugees
More than a century ago, San Francisco mobilized to house thousands of residents displaced by the 1906 earthquake. Could their strategy offer a model for the present?

HSR Reaches Key Settlement in Northern California City
The state’s high-speed rail authority reached an agreement with Millbrae, a key city on the train’s proposed route to San Francisco.

Washington State Legislature Passes Parking Reform Bill
A bill that would limit parking requirements for new developments is headed to the governor’s desk.

Missouri Law Would Ban Protections for Housing Voucher Users
A state law seeks to overturn source-of-income discrimination bans passed by several Missouri cities.
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